Treasury secretary says there won't be a recession in 2026

Treasury Secretary Scott Bessent said the U.S. is not at risk of entering a recession, saying he’s confident Americans will feel economic relief in 2026.

Treasury Secretary Scott Bessent on Sunday said “no” when asked whether the U.S. was at risk of entering a recession in 2026, telling NBC News’ “Meet the Press” he’s confident Americans will feel economic relief next year stemming from President Donald Trump’s tariff agenda and trade deals.

“I am very, very optimistic on 2026. We have set the table for a very strong, noninflationary growth economy,” Bessent told moderator Kristen Welker.

He also said, “We believe health care is going to come down,” adding that the Trump administration would have news on that front this week.

Bessent says inflation ‘has nothing to do with tariffs’ as U.S. rolls them back: Full interview12:52The treasury secretary acknowledged that there is some pressure on the economy in certain sectors like housing, responding to comments from National Economic Council Director Kevin Hassett earlier this month that “we’re starting to see pockets of the economy that look like they might be in a recession.”

“Clearly, housing has been struggling, and interest rate-sensitive sectors have been in a recession,” Bessent said Sunday. He added that the recent government shutdown, which was the longest in history, also squeezed the economy.